Illinois Tool Works Inc. (NYSE:ITW) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC cut its holdings in shares of Illinois Tool Works Inc. (NYSE:ITW - Free Report) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,075 shares of the industrial products company's stock after selling 1,023 shares during the period. Kingswood Wealth Advisors LLC's holdings in Illinois Tool Works were worth $780,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ITW. Nikulski Financial Inc. raised its position in Illinois Tool Works by 3.6% in the third quarter. Nikulski Financial Inc. now owns 1,108 shares of the industrial products company's stock worth $290,000 after acquiring an additional 39 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in Illinois Tool Works by 2.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,614 shares of the industrial products company's stock worth $423,000 after acquiring an additional 40 shares in the last quarter. Sigma Planning Corp raised its position in Illinois Tool Works by 0.9% in the third quarter. Sigma Planning Corp now owns 4,639 shares of the industrial products company's stock worth $1,216,000 after acquiring an additional 41 shares in the last quarter. Harbour Investments Inc. raised its position in Illinois Tool Works by 1.1% in the third quarter. Harbour Investments Inc. now owns 3,652 shares of the industrial products company's stock worth $957,000 after acquiring an additional 41 shares in the last quarter. Finally, Procyon Advisors LLC raised its position in Illinois Tool Works by 2.7% in the third quarter. Procyon Advisors LLC now owns 1,609 shares of the industrial products company's stock worth $422,000 after acquiring an additional 43 shares in the last quarter. 79.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ITW shares. Evercore ISI cut Illinois Tool Works from an "in-line" rating to an "underperform" rating and increased their price objective for the stock from $246.00 to $255.00 in a research report on Wednesday, November 13th. StockNews.com upgraded Illinois Tool Works from a "hold" rating to a "buy" rating in a research report on Wednesday, January 22nd. Citigroup decreased their price objective on shares of Illinois Tool Works from $279.00 to $265.00 and set a "neutral" rating on the stock in a research report on Monday, January 13th. Barclays cut their target price on shares of Illinois Tool Works from $270.00 to $265.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 8th. Finally, Jefferies Financial Group increased their price target on shares of Illinois Tool Works from $255.00 to $290.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $269.89.

Illinois Tool Works Trading Down 0.8 %

ITW stock traded down $1.99 during midday trading on Wednesday, hitting $256.72. The stock had a trading volume of 378,042 shares, compared to its average volume of 837,357. Illinois Tool Works Inc. has a 12-month low of $232.77 and a 12-month high of $279.13. The firm has a market cap of $75.81 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 3.60 and a beta of 1.11. The company's 50-day moving average price is $262.74 and its 200 day moving average price is $256.86. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.36 and a quick ratio of 0.97.

Illinois Tool Works (NYSE:ITW - Get Free Report) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a return on equity of 97.06% and a net margin of 21.66%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the firm posted $2.55 earnings per share. The business's quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Illinois Tool Works Inc. will post 10.13 earnings per share for the current fiscal year.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.